- Obama promises strict oversight of U.S. stimulus
- White House statement on banks tempers nationalization fears; U.S. Treasury says banks should stay privately owned
- Crisis may be worse than Great Depression - Obama adviser Volcker
- UBS warns of dire consequences from U.S. tax battle
- Stanford's customer accounts frozen; Stanford surrendered passport, keeps low profile
- Euro zone economy slumps further in Feb
- ECB talks down chances of cutting rates to zero
- Germany's upper house approves stimulus package; finmin dismisses report on euro bond issues
- BOJ says corporate profits worsen at faster pace
- U.S. autos task force orders more restructuring analysis
- Fiat gets 1 billion euro line of credit from banks
- Latvia's government collapses; Serbia to seek to expand IMF rescue to 2 billion euros
- World steel output drops 24 pct in Jan, EU off 46 pct
- U.S. stocks trim losses before close after White House says it strongly believes in privately held banking system. European shares closed at six-year low.
- Dollar falls against basket of major currencies. Euro stages sharp rebound.
- Government bond prices rise as risk aversion grows.
- Oil below $39 on concerns global demand will continue to shrink due to economic crisis.
- U.S. gold futures shoot above $1,000 an ounce.
"I don't remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world" - Paul Volcker, a top adviser to U.S. President Barack Obama
"Nationalization is not a dirty word ... It's sometimes a tool and a way to restore a situation for a temporary period of time -- and then there's privatization again" - French Economy Minister Christine Lagarde
"There's a little bit of panic out there. Equities are setting new lows and gold is the place to run to" - Robert MacIntosh, chief economist at Eaton Vance in Boston
"Risk tolerance of global investors is falling" - Takashi Kamiya, chief economist at T & D Asset Management in Tokyo
"There has been nothing of good news on the global economic front for some time and even the shock value of truly horrible data appears to have faded" - Patrick Bennett, Asia forex and rates strategist at Societe Generale, Hong Kong
SATURDAY, Feb. 21
BEIJING - U.S. Secretary of State Clinton continues visit to China (to Sunday).
FLORENCE - ECB Executive Board member Smaghi to speak at the Master Eunomia.
CAPE TOWN - Southern African Development Community council of ministers meeting (to Friday).
SUNDAY, Feb. 22
BERLIN - ECB President Trichet joins meeting with Germany, Britain, France and Italy to prepare for G20 summit in April on global financial crisis. News conference at 1345 GMT.
MONDAY, Feb. 23
PARIS - ECB's Trichet speaks at conference of Committee of European Securities Regulators at 0810 GMT.
PARIS - French unions meet to decide response to government measures to boost economy.
WASHINGTON - President Obama hosts "fiscal summit" at White House with members of Congress, senior administration officials and various experts. From 1730 GMT.
TUESDAY, Feb. 24
WASHINGTON - President Obama to address joint session of Congress on the $787 billion U.S. economic stimulus package.
WASHINGTON - Japanese Prime Minister Aso meets Obama.
ROME - Italian-French Summit. Prime Minister Berlusconi and President Sarkozy expected to attend.
TOKYO - WTO Director-General Lamy visits Japan (to Thursday).
MADRID/BRUSSELS - Deadline for Spain to reply to European Commission over plan to aid its auto sector.
THURSDAY, Feb. 26
WASHINGTON - U.S. President Obama to release first budget proposal. (Compiled by World Desk Americas, +1 202 789 8015)